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Jan 23, 2013
01/13
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there's a huge de-escalation on the debt ceiling issue. hence the president's second major win in a month and shows republicans are in full on retreat on fiscal policy. president obama has consistently said his refused to negotiate. his strategy is indicated republicans are backed up their threats to take the nation into default. the president spared on republicans. they blinked because they realized they didn't have the leverage they thought they would. this is the president's second big victory in a row coming after the new year's eve agreement that ended bush tax breaks for the wealthiest 2% of americans. gambling was the fault was never a sound plan. substantively we all know, markets now, this is though, americans know as playing with fire. politically it was a loser as well. americans had a bad taste in the mouth that could join christ in 2011. poll showed that the republicans back then it would have the him even more so. in recent weeks many conservative opinion makers have been warning republicans this is a losing fight. even senat
there's a huge de-escalation on the debt ceiling issue. hence the president's second major win in a month and shows republicans are in full on retreat on fiscal policy. president obama has consistently said his refused to negotiate. his strategy is indicated republicans are backed up their threats to take the nation into default. the president spared on republicans. they blinked because they realized they didn't have the leverage they thought they would. this is the president's second big...
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Oct 14, 2013
10/13
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bills and ronald reagan said send me a debt ceiling increase. look what he says. he said -- "the full consequences of a default or even the serious prospect of default by the united states are impossible to predict and awesome to contemplate. denigration of the full faith and credit of the united states would have substantial effects on the domestic financial markets and the value of the dollar." ronald reagan, 1983. and that's when our economy was much smaller than it is today. so how does the party of ronald reagan now get us to this point where three days we're about to default? i didn't hear one word out of them when they decided to put two wars on the credit card and a huge tax break for billionaires on the credit card and a big medical prescription drug benefit on the credit card. not one word out of them. oh, vote, vote, vote, vote. and what happened? we had a surplus under bill clinton, we had a huge increase in the deficits under george w. bush, and, by the way, president obama got handed an enormous deficit which he has cut in half. so
bills and ronald reagan said send me a debt ceiling increase. look what he says. he said -- "the full consequences of a default or even the serious prospect of default by the united states are impossible to predict and awesome to contemplate. denigration of the full faith and credit of the united states would have substantial effects on the domestic financial markets and the value of the dollar." ronald reagan, 1983. and that's when our economy was much smaller than it is today. so...
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Dec 17, 2013
12/13
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ceiling to prioritize debt payments? >> the issue of whether or not that decision can be made is fundamental to a presidential decision. >> i know, but have you as treasury secretary, your department requested from the office of legal counsel whether or not you can prioritize the? >> i've answered your question. it would be a question between the white house counsel and the justice department because the president -- >> let me point you to the fact that "huffington post" article from last week said the obama a decision to the platinum coin option more seriously than it led on. this idea you have a $1 trillion coin minted and deposited at the federal, at the fed, then draw upon that, it is, according to the "huffington post," the administration did ask the office of legal counsel for this absurd idea to actually be judged whether not it's legal. yet at the same time you will not say that you have asked whether or not you can prioritize payment. that is deeply concerning to me. >> i'm prepared to discuss the possible those
ceiling to prioritize debt payments? >> the issue of whether or not that decision can be made is fundamental to a presidential decision. >> i know, but have you as treasury secretary, your department requested from the office of legal counsel whether or not you can prioritize the? >> i've answered your question. it would be a question between the white house counsel and the justice department because the president -- >> let me point you to the fact that "huffington...
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May 21, 2013
05/13
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it is the debt ceiling and whether the senate will be able to raise the debt ceiling using a procedural back door that would allow only 51 votes. my friend from nevada, my friend from washington state, both of them could go to conference on the budget right now today if they would simply agree that this budget would not be used as a back door to use a procedural trick to raise the debt limit not on 60 votes but on 50 votes. now, i commend their candor because neither one of them is willing to make that representation, and that is commendable, but i would point out in the budget we debated nothing in that budget raised the debt ceiling, and i would suggest, madam president, that the american people are not interested in procedural games. i think they're tired of games by the democrats and they're tired of games by the republicans. what they are interested in is leadership in this body to address the enormous fiscal and economic challenges facing this country. our national debt is nearly $17 trillion. it is larger than the size of our entire economy. the last four years our economy has gr
it is the debt ceiling and whether the senate will be able to raise the debt ceiling using a procedural back door that would allow only 51 votes. my friend from nevada, my friend from washington state, both of them could go to conference on the budget right now today if they would simply agree that this budget would not be used as a back door to use a procedural trick to raise the debt limit not on 60 votes but on 50 votes. now, i commend their candor because neither one of them is willing to...
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Oct 13, 2013
10/13
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now, we've heard from some people who are debt deniers -- debt ceiling deniers that these are just scare tactics, that these terrible consequences wouldn't happen. but, in fact, we saw that in 2011, when we were having this debate again about whether we should raise the debt ceiling or not, that there were dire consequences to that debate. in late-july and early ark leading up to the debt deal of 2011, the dow jones industrial average dropped 2,000 points. as a result of that point, average americans with retirement accounts and other investments saw their household wealth plummet by $2.4 trillion. our credit rating was downgraded for the first time in america's history, and the crisis resulted in an additional $1.3 billion in borrowing costs for the federal government. as the presiding officer said so well, if you care about the debt and the deficits facing this country, why would we inflict that kind of burden again on the economy by saying we're not going to raise the debt ceiling? the potential consequences, if we refuse raise the debt ceiling, on november 1 -- we've already heard fr
now, we've heard from some people who are debt deniers -- debt ceiling deniers that these are just scare tactics, that these terrible consequences wouldn't happen. but, in fact, we saw that in 2011, when we were having this debate again about whether we should raise the debt ceiling or not, that there were dire consequences to that debate. in late-july and early ark leading up to the debt deal of 2011, the dow jones industrial average dropped 2,000 points. as a result of that point, average...
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Oct 10, 2013
10/13
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what is the debt ceiling? it sounds -- in fact, this morning i listened as the minority leader said it's raising the credit card limit. no, it isn't. that's not an accurate statement. it is raising the authority of our government to borrow money to pay for what we've already spent. many of the same politicians who voted for the spending bills now don't want to pay for it. they don't want to extend this debt ceiling, the credit of the united states. that is totally irresponsible. it's ordering the biggest meal on the menu and then refusing to pay when the bill comes. that's where they stand. that's what they are arguing. but it's even worse. it would be the first time in the history of the united states of america that we will have defaulted on our national debt, the first time that we called into question the full faith and credit of the united states of america. how serious is it? let me tell you how serious it is. pick up the morning paper. world leaders fear a default by the united states, in "the washingto
what is the debt ceiling? it sounds -- in fact, this morning i listened as the minority leader said it's raising the credit card limit. no, it isn't. that's not an accurate statement. it is raising the authority of our government to borrow money to pay for what we've already spent. many of the same politicians who voted for the spending bills now don't want to pay for it. they don't want to extend this debt ceiling, the credit of the united states. that is totally irresponsible. it's ordering...
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Feb 6, 2013
02/13
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in washington, over the past few months, our attention has been on cliffs, debt ceilings, budgets, deadlines, and negotiations. all of this is extremely important. because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that is facing us, our children, and theirs, and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing this country. but today i'd like to focus on what lies beyond the fiscal debate. and over the next two years, our house majority will pursue an agenda that is based on a shared vision of creating the conditions of health, happiness, and prosperity, for more americans and their families. and to restrain washington from interfering in those pursuits. we'll advance proposals aimed at producing results in areas like education, health health, innovation, and job growth. our solutions will be based on the conservative principles of self-reliance, faith in the individual, trust in family, and accountability
in washington, over the past few months, our attention has been on cliffs, debt ceilings, budgets, deadlines, and negotiations. all of this is extremely important. because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that is facing us, our children, and theirs, and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing...
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Oct 11, 2013
10/13
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we're talking about paying our bills, when we talk about raising the debt ceiling. these debt -- this -- this -- this money has already been incurred. we're just paying our bills. butter the government shutdown, we've wasted over $2 billion taxpayer money as a result of the shutdown. and as the presiding officer knows, this region -- maryland, virginia, the district -- we have over 300,000 federal workers who are in furlough of the 800,000 that are furloughed in this country. that has a direct impact on families as well as our economy. these federal workers are not buying and their local shops, they're not eating in the local restaurants. i was -- stopped for a sandwich over the last weekend and went into a store, i said, how are things going, a restaurant to get a sand wism th sandwich, thr owner said terrible. the social security employees aren't here. i can't keep my business over without their business. so we've seen the direct impact. and i've tried to put faces on the numbers because we could talk about the statistics and the numbers. when you talk about the i
we're talking about paying our bills, when we talk about raising the debt ceiling. these debt -- this -- this -- this money has already been incurred. we're just paying our bills. butter the government shutdown, we've wasted over $2 billion taxpayer money as a result of the shutdown. and as the presiding officer knows, this region -- maryland, virginia, the district -- we have over 300,000 federal workers who are in furlough of the 800,000 that are furloughed in this country. that has a direct...
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Jan 23, 2013
01/13
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the debt ceiling can originate in either house, the senate finance committee could generate a debt ceiling proposal and they could do it if they wanted to. try to embrace some spending reductions, but i think what the house is saying is they are hoping to act soon as maybe tomorrow and it will be incumbent upon the senate majority to function. we look forward to seeing what the senate democrats recommend. we look forward to seeing what they recommend. it's time for them to function. [inaudible conversations] >> as all of you know, the majority of the senate will determine what the majority is and we will be happy to look at what the majority leaders will bring forward to the full senate. >> what did you think of the presidential inaugural address? >> i think it was disappointing i don't think it's a great way to start off a second term. i think it is quite disturbing. [inaudible conversations] >> welcome back, everyone. let's have a celebration. the first time we have been able to sit down together as a group. we have more female members serving now than ever before. we have so many issues
the debt ceiling can originate in either house, the senate finance committee could generate a debt ceiling proposal and they could do it if they wanted to. try to embrace some spending reductions, but i think what the house is saying is they are hoping to act soon as maybe tomorrow and it will be incumbent upon the senate majority to function. we look forward to seeing what the senate democrats recommend. we look forward to seeing what they recommend. it's time for them to function. [inaudible...
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Jan 31, 2013
01/13
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we have got $16.4 trillion in debt today, so by the time the debt ceiling is reapplied, rei am posed, it will just under $17 trillion. now, at that point, we will be right back to the standoff that we were at very recently, standoff over what to do about this massive amount of debt we already have and the massive amount of additional debt that the administration would like to create. now, the administration's position is very clear. they want additional borrowing authority with no strings attached, no conditions, no limits on future spending. they just want to be able to keep borrowing. some on our side of the aisle feel very strongly that any increase in the debt ceiling that authorized still more borrowing needs to be accompanied with some measure of spending discipline so that we can at some point begin to regain control over these out-of-control deficits and the debt. well, in any case, what we know for sure is this tension will re-emerge and that we don't have a resolution in place now, and if this measure passes -- which very likely it will and it will be signed into law -- we h
we have got $16.4 trillion in debt today, so by the time the debt ceiling is reapplied, rei am posed, it will just under $17 trillion. now, at that point, we will be right back to the standoff that we were at very recently, standoff over what to do about this massive amount of debt we already have and the massive amount of additional debt that the administration would like to create. now, the administration's position is very clear. they want additional borrowing authority with no strings...
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Jun 13, 2013
06/13
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debt ceiling in history. and that was supposed to take us two or three years. well, we've already hit that debt ceiling again now it appears. soon we'll be having to pass legislation -- all the little extensions and maneuvering -- to extend the debt ceiling a little longer are being exercised. but we'll soon have to vote again to raise the debt ceiling. but in august of 2011, after much intensity of effort, legislation passed. i opposed it out of one of my biggest -- one of my biggest concerns was what it was doing to the defense budget, but the bill passed and it set up a committee and it said -- and the cheat was tcommittee was to deah future cuts and long-term entitlement programs and other programs. that was their goal. they were given that challenge. but fundamentally the bill that passed raised the debt ceiling $2.1 trillion, but it reduced spending, the growth of spending, better said, over the next ten years by $2.1 trillion. and, unfortunately, those reductions in the growth of spending fell dispropo
debt ceiling in history. and that was supposed to take us two or three years. well, we've already hit that debt ceiling again now it appears. soon we'll be having to pass legislation -- all the little extensions and maneuvering -- to extend the debt ceiling a little longer are being exercised. but we'll soon have to vote again to raise the debt ceiling. but in august of 2011, after much intensity of effort, legislation passed. i opposed it out of one of my biggest -- one of my biggest concerns...
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Feb 14, 2013
02/13
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amount we raised the debt ceiling. you get to spend that money now, and it was spent in 18 months. we already hit the debt ceiling again. we would raise this debt ceiling $2.1 trillion, and an agreement was reached to reduce spending over the next ten years by $2.1 trillion. so that was then. the president signed that. the democratic leader in the senate agreed to that. the speaker of the house, the republican, agreed to that. that became the law. well, we were on path at that time -- and these are numbers that we live with every day. i'm the ranking republican on the budget committee, and it's just a constant item in our face out there. we were then spending $3.7 trillion a year. if you extend that for ten years, you would spend $37 trillion over ten years. but the budget was expected to grow. it was expected to grow to $47 trillion. so at the end of that time, we would have increased spending by $10 trillion almost. this deal would have said that we wouldn't spend $47 trillion but $45 trillion, thereby reducing the i
amount we raised the debt ceiling. you get to spend that money now, and it was spent in 18 months. we already hit the debt ceiling again. we would raise this debt ceiling $2.1 trillion, and an agreement was reached to reduce spending over the next ten years by $2.1 trillion. so that was then. the president signed that. the democratic leader in the senate agreed to that. the speaker of the house, the republican, agreed to that. that became the law. well, we were on path at that time -- and these...
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Oct 10, 2013
10/13
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the debt ceiling is next." at least let's name this for what it is -- sabotage of the democratic process. kevin drum of "mother jones" wrote -- quote -- "how do you get across how insurrectionary this is? raising the debt ceiling isn't a concession from republicans that deserves a corresponding concession from democrats. it's the financial equivalent of a nuclear bomb." and warren buffett used equally stark terms when he said in "fortune magazine" -- quote -- "it ought to be banned, referring to defaulting on the nation's obligations" -- "it ought to be banned as a weapon. it should be like nuclear bombs, basically too horrible to use." clearly in the name of some misguided allegiance to an extreme ideology, a handful of ultraconservative extremists in the republican party are putting at risk the rule of law. they're putting at risk the full faith and credit of the united states, america's influence, as well as our obligations around the world, and our national security, embassy security, intelligence collectio
the debt ceiling is next." at least let's name this for what it is -- sabotage of the democratic process. kevin drum of "mother jones" wrote -- quote -- "how do you get across how insurrectionary this is? raising the debt ceiling isn't a concession from republicans that deserves a corresponding concession from democrats. it's the financial equivalent of a nuclear bomb." and warren buffett used equally stark terms when he said in "fortune magazine" -- quote --...
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Jan 25, 2013
01/13
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first the fiscal cliff, debt ceiling, joe biden's uncontrolled task force. these are sideshows we've allowed to take center stage in our country. as conservatives can with all the sideshow track. all of these debates are about government. governments and government power are the leading lady and they demanded government today. today's conservatives and disrupted the solving the hideous mess that is the federal budget, the mammoth federal debt, shortfall in entitlement programs. we seem to have an obsession with government bookkeeping. this is the wrong game for us to play. today's the fiscal cliff, tomorrow the fiscal armageddon. but i've got news for you. our government to stop the fiscal cliff. it happened years ago and every year for many years. today's conservatism is in love. if we can unite behind a proposal to cut the deficit and debt and put together a spreadsheet and powerpoint and tv out, all will be well. the succession procedures is focused on government. by accessing the service on the budget spreadsheet within a not-so-subtle signal to focus ou
first the fiscal cliff, debt ceiling, joe biden's uncontrolled task force. these are sideshows we've allowed to take center stage in our country. as conservatives can with all the sideshow track. all of these debates are about government. governments and government power are the leading lady and they demanded government today. today's conservatives and disrupted the solving the hideous mess that is the federal budget, the mammoth federal debt, shortfall in entitlement programs. we seem to have...
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Oct 9, 2013
10/13
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and so we're heading to the debt ceiling. and we, by law, limit the amount of money congress can borrow, how much money we can spend above our current -- how much we can borrow. we're now spending about $ $3,500,000,000,000 a year, and we're taking in about $3,800,000,000,000 a year. tbhi that. -- think about that. that's what we're doing every year. and it's unsustainable. august of 2011 we faced the debt ceiling and the american people told congress, you guys, we want to clip back on your credit card. you're not going to continue to borrow this much money every year. we want you, before you raise the debt ceiling, we want you to show that you're going to be more frugal, that you're going to manage our money better. and the republicans dug their heels in on that and said, mr. president, we're not going to raise the debt ceiling until you agree to some financial constraints, that you're not going to keep spending recklessly every year. and after a tense time, there was an agreement reached and a committee was formed, an agree
and so we're heading to the debt ceiling. and we, by law, limit the amount of money congress can borrow, how much money we can spend above our current -- how much we can borrow. we're now spending about $ $3,500,000,000,000 a year, and we're taking in about $3,800,000,000,000 a year. tbhi that. -- think about that. that's what we're doing every year. and it's unsustainable. august of 2011 we faced the debt ceiling and the american people told congress, you guys, we want to clip back on your...
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Mar 20, 2013
03/13
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ceiling, and a lot of members of congress were reluctant to raise the debt ceiling since we were so irresponsible around this place, but an agreement was reached recognizing that could be disruptive to a significant degree, that we would raise the debt ceiling $2.1 trillion but we would reduce spending over ten years $2.1 trillion. well, we've already run up another $2.1 trillion in debt. we've already hit that. but they're proposing, and the president himself in his budget last january, six months -- less that six months after he signed the budget control act eliminating a little bit of the growth in spending, he's proposing to eliminate it, at least the sequester part of it, which is $1.2 trillion, 60%. so here are some other figures that are plain that the american people should know about this budget. it has a 60% spending increase over ten years, would increase spending 60%. it has $162 billion increase in spending next year, another stimulus bill. $7.3 trillion in new federal debt will be added under this budget over the next ten years. $1.5 trillion in tax increases. 80% incr
ceiling, and a lot of members of congress were reluctant to raise the debt ceiling since we were so irresponsible around this place, but an agreement was reached recognizing that could be disruptive to a significant degree, that we would raise the debt ceiling $2.1 trillion but we would reduce spending over ten years $2.1 trillion. well, we've already run up another $2.1 trillion in debt. we've already hit that. but they're proposing, and the president himself in his budget last january, six...
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Oct 8, 2013
10/13
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and we all know that we're going to raise the debt ceiling. we all know we're going to open up the government, so let's do it earlier rather than later. i think it is important to remind ourselves, yes, we're the greatest country in the world. the leader asked me to refer to a book that i mentioned a couple of hours ago by paul kennedy, princeton historian. and he pointed out in the sweep of history, civilizations and countries rise and fall. there is no guarantee that any civilization or country continues forever. greeks, romans, persians, begin begin -- gingas khan. we're number one right now. how long can we continue to be one. he also pointed out, kennedy, in the sweep of history countries are defeated not by external armies but by external decay. i'm saying, mr. president, let's not decay here. let's resolve this like adults and let's be responsible in the spirit of winston churchill. ms. collins: mr. president? the presiding officer: the senator from maine. ms. collins: mr. president, the government shutdown represents a failure to gover
and we all know that we're going to raise the debt ceiling. we all know we're going to open up the government, so let's do it earlier rather than later. i think it is important to remind ourselves, yes, we're the greatest country in the world. the leader asked me to refer to a book that i mentioned a couple of hours ago by paul kennedy, princeton historian. and he pointed out in the sweep of history, civilizations and countries rise and fall. there is no guarantee that any civilization or...
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Sep 30, 2013
09/13
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past certain severely negotiated agreements getting attached to the debt ceiling, and the debt ceiling itself being used as a bargaining chip. what the republican position is is the following. but the republicans are going to give in this negotiation is there going to vote to allow the united states to pay its bills on time, right? that's their concession. they're going to make sure that we don't default. in exchange for that they want the democrats to accept the radical budget agenda. they have the kitchen sink that they threw into their proposal. that's not how it works. we believe we all have a responsibility to pay the country's bills on time. as you know, congress has voted to occur all this obligation in the past. but we do want to separately sit down and negotiate a budget. we've been trying to do. we been trying to get the budget conference committee appointed as a block that as well. >> i have two questions so forgive me if this is been asked before. do you think that a shutdown of, however long, makes the debt ceiling reach more or less likely? second question is a different
past certain severely negotiated agreements getting attached to the debt ceiling, and the debt ceiling itself being used as a bargaining chip. what the republican position is is the following. but the republicans are going to give in this negotiation is there going to vote to allow the united states to pay its bills on time, right? that's their concession. they're going to make sure that we don't default. in exchange for that they want the democrats to accept the radical budget agenda. they...
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Feb 26, 2013
02/13
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we raised the debt when ronald reagan was president. 18 times we raised the debt ceiling. but all of a sudden when there is a democratic president, they're playing games, and that's wrong. and so obviously, we didn't want to see another downgrade. we had already seen a delay the last time cost us $1.3 billion, mr. president, in borrowing costs alone. so in order to avert this, on august 2, 2011, we enacted the budget control act. when it became law, we were within hours of defaulting on our debts. the budget control act allowed us to raise the debt ceiling but on the condition that a super committee find $1.2 trillion in cuts or force a trigger of across-the-board cuts known as sequestration. mr. president, straight from my heart i say this -- no one thought the sequester would go forward. everyone thought the pain to the economy would be so great that everybody would sit down and resolve it. but here's what's going on right now. democrats say the way to resolve it and avert the sequester is to have dollar-for-dollar spending cuts and increases in revenues. republicans say
we raised the debt when ronald reagan was president. 18 times we raised the debt ceiling. but all of a sudden when there is a democratic president, they're playing games, and that's wrong. and so obviously, we didn't want to see another downgrade. we had already seen a delay the last time cost us $1.3 billion, mr. president, in borrowing costs alone. so in order to avert this, on august 2, 2011, we enacted the budget control act. when it became law, we were within hours of defaulting on our...
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Sep 23, 2013
09/13
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ceiling. >> host: what's the timeframe on the debt ceiling? mid-october is when we see that debt ceiling number? >> guest: exactly. about october 18, mid-october treasury says they anticipate the current 16 points $7 trillion ceiling will be hit. so congress and the white house will have to decide whether, well, the white house refused any to just be but the congress, republican congress members say they have to have a say on that and plan, and will force a vote on whether they can even be raised or delayed for a year. >> host: billy house at the "national journal" congressional correspondent. you can follow him on twitter at house in session and see his work at nationaljournal.com. thinks are getting at this point with us this morning. >> later this afternoon, a look at human trafficking will be at hearing of the senate homeland security committee at 2:30 p.m. eastern time on our companion network c-span. >> broadband is the service, when you look at the cable is in general and the cable industry has done such a tremendous job of deploying br
ceiling. >> host: what's the timeframe on the debt ceiling? mid-october is when we see that debt ceiling number? >> guest: exactly. about october 18, mid-october treasury says they anticipate the current 16 points $7 trillion ceiling will be hit. so congress and the white house will have to decide whether, well, the white house refused any to just be but the congress, republican congress members say they have to have a say on that and plan, and will force a vote on whether they can...
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Jun 13, 2013
06/13
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debt ceiling that's statutory but the real debt ceiling occurs when creditors are no longer to interested money. is our ability limited by our ability to fund? >> i think the quick answer is yes. the comments -- and i recall when he said them, i agree the nation's economic strength is of all of their liberties and preservation of security. and you can't just connect the two. >> how do you go about planning for the uncertainty and the difficulty of the budget? we just passed out of appropriations the defense markup on the defense. previously you had a request for equipment, helicopters, airplanes etc. that's been diminished. what process do you use to make those decisions. >> we have the component that oversees the services on accountability, responsibility for managing the pentagon that is opposite of the security fence that is five undersecretaries, the comptroller is one of them. the undersecretary for the acquisitions and the chiefs and the services with input from the nine combatant commanders works through that, then the budget obviously is an underpinning dynamic because if you don'
debt ceiling that's statutory but the real debt ceiling occurs when creditors are no longer to interested money. is our ability limited by our ability to fund? >> i think the quick answer is yes. the comments -- and i recall when he said them, i agree the nation's economic strength is of all of their liberties and preservation of security. and you can't just connect the two. >> how do you go about planning for the uncertainty and the difficulty of the budget? we just passed out of...
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Feb 13, 2013
02/13
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first of all, on the debt ceiling issue. ii think that people remember te summer of 2011, you have lots of house republicans who are threatening not to increase the debt ceiling, which means the united states would default on its obligations. it is important to understand what the debt ceiling is all about. just to provide the ability to pay for bills and obligations already o. wayne, already owing under the law. if the federal government were to wake up and decide not to pay those bills, it would be like any of us getting up after having gone on about things on a credit card and say we've got those things, but we're not going to pay for them. in every sense those obligations has been voted on previously by congress over the years, which is why people say so clearly, don't mess around with the public debt in the u.s. senate because he would have a negative impact on our economy and the world economy. tom mentioned that nobody is suggesting we not pay the public debt. that qualification is important here because earlier the n
first of all, on the debt ceiling issue. ii think that people remember te summer of 2011, you have lots of house republicans who are threatening not to increase the debt ceiling, which means the united states would default on its obligations. it is important to understand what the debt ceiling is all about. just to provide the ability to pay for bills and obligations already o. wayne, already owing under the law. if the federal government were to wake up and decide not to pay those bills, it...
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Sep 23, 2013
09/13
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in the events the debt ceiling is not raised we will always pay our debts first. i suspect every member of this body has spoken publicly about the calamity that would come from a default on the debt. i think it is quite revealing that the majority leader explicitly referenced and objected to by name taking a default off the table. i think that's unfortunate. there is a tendency in this town towards rinks and ship, towards pointing to events that can cause instability and uncertainty and using that to try to get your way. i wish the majority leader had been willing to step oregon to say i agree number one is the government should be funded. we should not have a government shut down an number two that we should never ever ever even discussed a default on the debt. have the majority leader said i consent a default on the debt would have been taken permanently off the table. why didn't he? we all know why he did not exist the majority leader embraces obamacare. i'm going to suggest to you mr. president that this body a little over three years ago passed obamacare. pas
in the events the debt ceiling is not raised we will always pay our debts first. i suspect every member of this body has spoken publicly about the calamity that would come from a default on the debt. i think it is quite revealing that the majority leader explicitly referenced and objected to by name taking a default off the table. i think that's unfortunate. there is a tendency in this town towards rinks and ship, towards pointing to events that can cause instability and uncertainty and using...
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Aug 26, 2013
08/13
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we all reject the debt ceiling. and so the agreement was finally reached and passed into law, both houses supported it. the president supported it. he suggested, the president did, or his aides, to request a mechanism, and that past. so after it passed, instead of spending going up from the current 37 trillion over 10 years, which would be current law, it was projected to go up to 47 trillion over 10 years and has the reductions when into place that we would increase spending from 37 to 45 trillion. and, of course, the problem we are facing is that cuts were directed into many areas, perhaps more heavily than it should be, in whole areas were protected from any cuts at all. so cuts were not balance. we need a balanced approach i think is what we need to a balanced approach in reduction of spending and tightening of our belt use of the courts are one of the areas that took a substantial reduction in spending. well, i don't quite understand how we are having 25, 30% cuts. it's not that much being cut. so somebody some
we all reject the debt ceiling. and so the agreement was finally reached and passed into law, both houses supported it. the president supported it. he suggested, the president did, or his aides, to request a mechanism, and that past. so after it passed, instead of spending going up from the current 37 trillion over 10 years, which would be current law, it was projected to go up to 47 trillion over 10 years and has the reductions when into place that we would increase spending from 37 to 45...
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Oct 12, 2013
10/13
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and the debt ceiling debt ceiling deniers fall in two camps. some say that, well, we can pay certain debts and not other debts, and that would be all right. well, let them choose. pick social security over veterans. pick payments to mothers, pregnant mothers versus payments for food safety. can't do it. and then they say, well, maybe we should just pay treasuries that come due and say not pay social security. well, let me tell you, as somebody who's consulted experts on the market, the overwhelming view is that if we don't pay any of our bills, for the first time in u.s. history that the markets could very well freeze up, tighten and create huge damage to our country. the second group of debt ceiling deniers say we can just -- you know, we don't know the date. we don't. the markets are mystical. but once they come to their almost magical conclusion that the u.s. is going to default, we are in trouble. that could be the 17th. it could be a day or two before, the 15th or 16th, importuning us to action as soon as possible. it could be a little bit
and the debt ceiling debt ceiling deniers fall in two camps. some say that, well, we can pay certain debts and not other debts, and that would be all right. well, let them choose. pick social security over veterans. pick payments to mothers, pregnant mothers versus payments for food safety. can't do it. and then they say, well, maybe we should just pay treasuries that come due and say not pay social security. well, let me tell you, as somebody who's consulted experts on the market, the...
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Mar 21, 2013
03/13
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but i've got to have my debt ceiling now. less than two years later we've already increased the debt ceiling $2.1 trillion. we're right up there again having to raise the debt ceiling again. it will be a matter of weeks that this has got to be confronted again. well, what about the spending cuts? before the ink was dry on that agreement, signed by the president himself, i've got the document right here, in blue ink, barack obama right there. agree to cut $2.1 trillion in spending over ten years. this wasn't a big cut. we are at the -- spending were flat for ten years, we would have spent $37 trillion. as i recall, if under the baseline then in effect, we were expected to grow it to $49 trillion over ten years. $49 trillion. this would have reduced it to $47 trillion. so we reduced the growth of spending from $37 trillion to $47 trillion instead of $49 trillion. now you would have thought we were throwing the sink and the country into the ocean. but in january, six months later, he proposes a budget that wipes out 60% of that
but i've got to have my debt ceiling now. less than two years later we've already increased the debt ceiling $2.1 trillion. we're right up there again having to raise the debt ceiling again. it will be a matter of weeks that this has got to be confronted again. well, what about the spending cuts? before the ink was dry on that agreement, signed by the president himself, i've got the document right here, in blue ink, barack obama right there. agree to cut $2.1 trillion in spending over ten...
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Dec 18, 2013
12/13
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in this town figure out a way to increase the debt ceiling. if in fact you just did the 1% rule that has been proposed by people and cut the budget 1% a year in 10 years you have a balanced budget and you don't have to increase the debt ceiling anymore. that doesn't say anything about reforming the tax code. so look, i have not voted for a debt ceiling increase because i think it's not honest with the american people. it's meaningless. we ought not to spend money we don't have and the reason we ought not to be spending that money is because all we are doing is decreasing the standard of living of the present up coming general election and surely $3 trillion for the spending we can find one or 2% or three or 4% that is wasteful and all we did was put out this book. i didn't include the second 200 or the third 200 of things that most reasonable people with any common sense and real work history would say that's not good value. that is not wise spending. the question is where is everyone else asking the questions as we continue to our or selves i
in this town figure out a way to increase the debt ceiling. if in fact you just did the 1% rule that has been proposed by people and cut the budget 1% a year in 10 years you have a balanced budget and you don't have to increase the debt ceiling anymore. that doesn't say anything about reforming the tax code. so look, i have not voted for a debt ceiling increase because i think it's not honest with the american people. it's meaningless. we ought not to spend money we don't have and the reason we...
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Mar 18, 2013
03/13
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and the republicans said, okay, we'll raise the debt ceiling is so the country doesn't default, but only if you agree to a dollar-for-dollar reduction in spending over the next decade. and so we got $2.5 trillion in spending restraint. not real cuts, spending less than obama had hoped in. in washington that's called a cut. if you wanted ten of something and you only got eight of something, you go i got cut too. actually, you walked away with eight. but, so that was a $2.5 trillion spending reduction over the next decade. it hasn't happened yet. we're still, we have several problems facing us. the trillion dollars in obamacare tax increases that hit this decade, that begin to hit now. oddly enough, the president and the democrats in the house and senate decided to put the tax increases, the bulk of them after the 2012 election. so everybody voted, and now the tax increases hit. it's not helpful for the economy, and i think it's going to be unpleasant for voters. >> host: ron's up next from watertown, south dakota, on the democratic line. good morning, ron. >> caller: good morning. >> gues
and the republicans said, okay, we'll raise the debt ceiling is so the country doesn't default, but only if you agree to a dollar-for-dollar reduction in spending over the next decade. and so we got $2.5 trillion in spending restraint. not real cuts, spending less than obama had hoped in. in washington that's called a cut. if you wanted ten of something and you only got eight of something, you go i got cut too. actually, you walked away with eight. but, so that was a $2.5 trillion spending...
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Aug 9, 2013
08/13
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the consequences of raising the debt ceiling or not raising the debt ceiling is immediate across the board, it would've been about 40% cut in all federal spending. that's defense, that's everything. so you know it takes a while to sort of turn the ship around and get it moving in the right direction. we started make that turn the that's why i voted for the ryan budget three times, helped write a. that's what a voted honestly for the lowest budget everything the year i've been in congress, the republican study committee budget, and only about 130 people at the most to vote for that. that's what we been awfully tough on spending. but again, you want to think twice about destroying the financial markets and the system and shutting down or essentially crippling the country. so that was my rationale on that. let me teach you a mic so they can hear you back there. >> thank you, congressman cole. >> thank you. >> when we go into the fold, could you speak as to what would happen to the bond market as to how much will have to pay in bonds that we are currently getting almost nothing on, 30 ye
the consequences of raising the debt ceiling or not raising the debt ceiling is immediate across the board, it would've been about 40% cut in all federal spending. that's defense, that's everything. so you know it takes a while to sort of turn the ship around and get it moving in the right direction. we started make that turn the that's why i voted for the ryan budget three times, helped write a. that's what a voted honestly for the lowest budget everything the year i've been in congress, the...
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May 7, 2013
05/13
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if the leader is willing to agree not to use it as a back-door tool to raise the debt ceiling. if not, he is certainly being candid, but the american people are rightly tired of back-room secret deals to raise the debt ceiling even further. and we should not be complicit in digging this nation even further into debt on merely a 50-vote threshold. finally, i would note that the leader made a plea to regular order, and yet he was seeking unanimous consent to set aside regular order. granting that consent could open the door to even more tax increases and crushing national debt, and in my judgment the senate should not employ a procedural back door to do so. for reasons unknown, the majority leader deemed my saying so out loud as somehow -- quote -- "bullying." speaking the truth, shining light on substantive disagreements of our elected representatives is not bullying, it is the responsibility of each of us. it is what we were elected to do. all of us should speak the truth and do so in candor. all of us should work together to solve the crushing economic and fiscal challenges in
if the leader is willing to agree not to use it as a back-door tool to raise the debt ceiling. if not, he is certainly being candid, but the american people are rightly tired of back-room secret deals to raise the debt ceiling even further. and we should not be complicit in digging this nation even further into debt on merely a 50-vote threshold. finally, i would note that the leader made a plea to regular order, and yet he was seeking unanimous consent to set aside regular order. granting that...
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Oct 10, 2013
10/13
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i wouldn't support raising the debt ceiling with careless spending cuts. when to start cutting the size of government. it's simply too big and too intrusive and mayor booker wants to make it even bigger. i want to see limited government we are spending too much. we are mortgaging our children's future and headed towards economic collapse if we don't start cutting spending. made of oak or does not don't have to do that. >> the president and senate democrats have said they would not back the sheet over the debt ceiling. if they do do not negotiate would you vote against raising the debt ceiling despite the warnings of the consequences? is. >> the warnings and consequences are defined in the united states constitution. i i don't know about you but i am still paying the taxes so that revenue is pointed toward the federal government so they can pay their debt but when the president says we will not negotiate that is not working together. that's a very clear message. we will not compromise. you do it our way or no plate and sometimes as time to stand and fight a
i wouldn't support raising the debt ceiling with careless spending cuts. when to start cutting the size of government. it's simply too big and too intrusive and mayor booker wants to make it even bigger. i want to see limited government we are spending too much. we are mortgaging our children's future and headed towards economic collapse if we don't start cutting spending. made of oak or does not don't have to do that. >> the president and senate democrats have said they would not back...
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Oct 17, 2013
10/13
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you know they only extended the debt ceiling by six weeks and they have only extended the budget for six weeks so it's quite possible you and i could be sitting here six weeks from now talking about exactly the same thing. i'm not sure publicans have the stomach for another big shutdown and it's not likely we'll see another government shutdown but we could very possibly see another big fight over the debt ceiling come january or early february. [inaudible] >> guest: who knows. the one thing republicans have forgotten about in this whole debate is republicans are playing with a weekend that they do have one thing the democrats are desperate to get rid of. they're kind of 80s under this leave for for the republicans as the sequester in the budget caps and democrats want to spend more money and are eager to get rid of that or at least suspend it so you could possibly see some kind of negotiation but you not just for example president president obama might say look we have known from the debacle of the exchange for the last 10 days this is a ready to go and not ready for prime-time. i th
you know they only extended the debt ceiling by six weeks and they have only extended the budget for six weeks so it's quite possible you and i could be sitting here six weeks from now talking about exactly the same thing. i'm not sure publicans have the stomach for another big shutdown and it's not likely we'll see another government shutdown but we could very possibly see another big fight over the debt ceiling come january or early february. [inaudible] >> guest: who knows. the one...
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May 1, 2013
05/13
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. >> someone alluded to the debt ceiling a moment ago. i think august 2nd sometime this summer. are we going to another wrenching ordeal? >> i'm worried for this reason. i believe the speaker of the house, john boehner, would agree it would be a bad idea to do a replay of the summer of 2011 where the to the deadline and created uncertainty. he had a negative impact on the economy. the issue is how, how he can put together that those in the house of representatives, including tea party republicans that would allow us to method that feeling, which we had on may 17 or management take makes, the treasury department as a sign of september, october. i think they play to avoid it, but they don't know how, so they've come up for now because cockamamie idea that you're somehow going to pay some of your bills, but not all of your bills. they collect their prioritization. if i could pay my mortgage but i don't have to pay -- they want the united states government to do that, what should be disastrous in a terribles ticknor, hurt the economy. but that so far there responds people pay some o
. >> someone alluded to the debt ceiling a moment ago. i think august 2nd sometime this summer. are we going to another wrenching ordeal? >> i'm worried for this reason. i believe the speaker of the house, john boehner, would agree it would be a bad idea to do a replay of the summer of 2011 where the to the deadline and created uncertainty. he had a negative impact on the economy. the issue is how, how he can put together that those in the house of representatives, including tea...
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May 14, 2013
05/13
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the debt ceiling, mr. president, is something 245 we used to just -- is something that we used to just move past. an elephant never forgets. but republicans don't follow their mascot, as they have a very short memory. elephants don't. but the republican party does. they should remember the political pain they inflicted upon them -- the republicans -- and our country over the past two years, in part by driving the one interest one manufactured crisis to the next. it's astonishing that republicans will once again, as they passed in the house last week, a bill to hold the full faith and credit of the united states government hostage. if only because it's so bad for their political brand, but it's also bad for our country. the last time republicans drove us to the brink of default, it cost the united states its pristine credit rating and cost the economy billions of dollars. when i talk about republicans, madam president, i'm not speaking about republicans generically. that is, republicans around the country.
the debt ceiling, mr. president, is something 245 we used to just -- is something that we used to just move past. an elephant never forgets. but republicans don't follow their mascot, as they have a very short memory. elephants don't. but the republican party does. they should remember the political pain they inflicted upon them -- the republicans -- and our country over the past two years, in part by driving the one interest one manufactured crisis to the next. it's astonishing that...
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May 10, 2013
05/13
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can the gentleman tell me, may 19th is the day the debt ceiling extension expires. can the gentleman tell me whether there's any proposal to act in the near future other than debt prioritization which will have no chance in the senate, and opposed by many republican economists as the gentleman knows, and by the bush former economic adviser to the bush administration said it wouldn't work, shouldn't work. can the gentleman tell me are whether there's any alternative plan before we leave here for memorial daybreak to give confidence to the economy and creditors and the american people that we will deal responsibly with a debt limit extension? i yield to my friend. >> thank you for yielding. i was disappointed in today's action. since that i think is dangerous to flirt with default. america ought to pay its debt. we ensure investors here at home, our local retirement funds, who have bought u.s. treasury in the social security and trust fund itself that gets paid back interest as well as other investors that america will not default. i was dispoibted it was made a parti
can the gentleman tell me, may 19th is the day the debt ceiling extension expires. can the gentleman tell me whether there's any proposal to act in the near future other than debt prioritization which will have no chance in the senate, and opposed by many republican economists as the gentleman knows, and by the bush former economic adviser to the bush administration said it wouldn't work, shouldn't work. can the gentleman tell me are whether there's any alternative plan before we leave here for...
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Oct 29, 2013
10/13
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it suspended the debt ceiling without -- which as we all know is driving our spending and debt crises. we won't by how much the debt limit was lifted until february 8th. there's no actual dollar limit right now on the debt. effectively there is no debt limit in place. next week the 29 member of the budget conference committee will hold the first meeting. facing a deadline on december 13th to come up with recommendation tow present to the full house and senate in a report. the first priority, of course, will be able to figure out government funding past january 15th. on that day sequestration, the automatic budget cuts passed in 2011 as a debt limit was race -- raided by 2.1 million. all that have borrowed happeninged within a year and a half. the cuts to be faced in over ten years through 2021. the sequester would kick in again on that day. the congressional budget office projects without any fiscal restraint the public debt will reach 100% of gross domestic product in less than generation by 2028. democratic research increasingly confirm the danger for economic growth at the growth s
it suspended the debt ceiling without -- which as we all know is driving our spending and debt crises. we won't by how much the debt limit was lifted until february 8th. there's no actual dollar limit right now on the debt. effectively there is no debt limit in place. next week the 29 member of the budget conference committee will hold the first meeting. facing a deadline on december 13th to come up with recommendation tow present to the full house and senate in a report. the first priority, of...
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Jan 18, 2013
01/13
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be done in term of reaching the debt ceiling. both sides seem locked in -- the president said i'm not going talk about the debt ceiling. speaker boehner said it can't be done unless we cut spending at the same time. so having watched this for more than thirty years of congress, what are the outside of actually avoiding going over the cliff given where both parties are? >> i think the odds are that we won't do it. [inaudible] as a mart of faith and consequence. those who say let's toy with it. they are toying with the american economy and they are toying with the global economy. and so i think it's somewhat -- it seems great to talk about doing that. but the closer you get to that cliff, i think the less likely it is that you'll -- [inaudible] >> let me ask one more and go to rick. let me ask about tax reform. you told "politico" last week that a balanced approach to replacing the sequester was spending cut and revenue. should accelerate tax reform. i believe it's fully possible this year if we work on a bipartisan basis. unquote.
be done in term of reaching the debt ceiling. both sides seem locked in -- the president said i'm not going talk about the debt ceiling. speaker boehner said it can't be done unless we cut spending at the same time. so having watched this for more than thirty years of congress, what are the outside of actually avoiding going over the cliff given where both parties are? >> i think the odds are that we won't do it. [inaudible] as a mart of faith and consequence. those who say let's toy with...
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Sep 19, 2013
09/13
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we have to shortly get a debt ceiling limit increase, and i think every member of congress is taking these issues seriously, but there's 435, 434, maybe 433 members now, and they come at it from every one of those come from different directions. i know that the armed services committee is keenly aware of the points that you bring up, and i think very supportive of the military. and we are the largest committee and congress, and maybe we can have some sway in some of these discussions. we haven't done so well so far, but maybe, maybe going forward we can. again, thank you for your service. please, let the men and women who serve with know that we appreciate, greatly, their efforts and the things that they do. with that, this hearing is adjourned. [inaudible conversations] >> the head of the house oversight committee, representative darrell issa, says he does not have any quote machiavellian efforts underway to stop the affordable care act. he and committee ranking member allies you coming spoke during a hearing on implementation of the health care law. you can see that hearing in its
we have to shortly get a debt ceiling limit increase, and i think every member of congress is taking these issues seriously, but there's 435, 434, maybe 433 members now, and they come at it from every one of those come from different directions. i know that the armed services committee is keenly aware of the points that you bring up, and i think very supportive of the military. and we are the largest committee and congress, and maybe we can have some sway in some of these discussions. we...
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Aug 2, 2013
08/13
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the president said he would not gauche on the debt ceiling. these guys want negotiation on the debt ceiling and everybody there will be none. as obama reiterated again yesterday. now senator mcconnell speaking about the vote. >> well, good afternoon, everyone. i'm sure we'll be a lot briefer than the group that was just before you. the vote we just had is symbolically very, very significant. two years ago this month on a bipartisan basis the president signing the bill, we committed to the american people that we would reduce spending over the next ten years by $2.1 trillion. there's no question that had cloture been invoked on this particular appropriation bill, which was even more than the president had asked for, your storyline tomorrow would have been, dong on -- congress on a bipartisan basis walks away from the budget control act. we now have a debt the sizes of our economy which makes us look like greece. there's much left to be done to get our financial house in order. but, boy, you don't make any progress in that direction by signaling
the president said he would not gauche on the debt ceiling. these guys want negotiation on the debt ceiling and everybody there will be none. as obama reiterated again yesterday. now senator mcconnell speaking about the vote. >> well, good afternoon, everyone. i'm sure we'll be a lot briefer than the group that was just before you. the vote we just had is symbolically very, very significant. two years ago this month on a bipartisan basis the president signing the bill, we committed to the...
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Feb 4, 2013
02/13
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it was not addressed in the debt ceiling. the debt ceiling should have been extended, but we need to now deal with the fundamental problem that our spending and revenues are not in line. now, we could talk about the cause of how we got here. we could talk about how the congress reduced tax revenues while we were at war, a policy that i spoke out against and voted against, but our responsibility is to figure out how we go from where we are today with budget deficits that are not sustainable to how we can bring our country into better fiscal balance. we need a balanced approach. we need an approach that looks at spending, looks at revenues, that acknowledges that job growth is first and foremost our objective. we have got to create more jobs in our economy. more people working, less people needing governmental services, more people paying tax revenues. all of that helps generate the growth in our economy. we have got to protect the middle class. the middle class has been particularly vulnerable during this slowdown in our econo
it was not addressed in the debt ceiling. the debt ceiling should have been extended, but we need to now deal with the fundamental problem that our spending and revenues are not in line. now, we could talk about the cause of how we got here. we could talk about how the congress reduced tax revenues while we were at war, a policy that i spoke out against and voted against, but our responsibility is to figure out how we go from where we are today with budget deficits that are not sustainable to...
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Feb 13, 2013
02/13
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then we move into the debt limit, the debt ceiling deadline of may 19th, the time, ladies and gentlemen, where we -- if we can work together, if we can work together as a -- the representatives of the people of this great country come together and find the solutions that will get us on the pro-growth path because you can't balance the budget solely on raising taxes. you can't blansz the budget sewly on spending reductions. you've got to get the economy rolling again, and for us, that means appropriate tax reform. it means savings, strengthening medicare, medicaid, social security, programs currently on the path for bankruptcy. means adopting a scene energy program for the country so with are independent so we stop sending money overseas over and over and over, and it means recognizing we're a red tape regulation nation now destroying the ability for small businesses to create jobs. pro-growth policies get us out of the dull drums we're in now. the challenge as the fourth of state. i don't ask you to driveway with us on any of these, but i challenge you to make certain that as you look a
then we move into the debt limit, the debt ceiling deadline of may 19th, the time, ladies and gentlemen, where we -- if we can work together, if we can work together as a -- the representatives of the people of this great country come together and find the solutions that will get us on the pro-growth path because you can't balance the budget solely on raising taxes. you can't blansz the budget sewly on spending reductions. you've got to get the economy rolling again, and for us, that means...
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Sep 26, 2013
09/13
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debt ceiling is met, if we always agree to raise the debt ceiling, what's the effect of a debt ceiling? if we always eve every yier yeaa continuing resolution, why have an aeptioan appropriations procw the american taxpayers' money is spent? it is just happening as if it is of no consequence. i want the appropriations process to work. i want to eliminate funding for some programs that aren't our business. the federal government should have never been involved in in the first place. i want us to establish the amount of money that we ca we cn afford to spend within the federal agencies and departments. and it may be true that there may be som some things that we t to spend more money ofnl the primary responsibility of the federal government is to defend our country and what we do with regard to defense spending has a huge consequence upon our ability to fulfill that constitutional responsibility. we take on too many things here to deal with. i've always viewed -- i've always believed the stliew if the 10th amendment to the constitution had ever been enforced in the way that i or most kan
debt ceiling is met, if we always agree to raise the debt ceiling, what's the effect of a debt ceiling? if we always eve every yier yeaa continuing resolution, why have an aeptioan appropriations procw the american taxpayers' money is spent? it is just happening as if it is of no consequence. i want the appropriations process to work. i want to eliminate funding for some programs that aren't our business. the federal government should have never been involved in in the first place. i want us to...
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Apr 23, 2013
04/13
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forgive us for raising the debt ceiling. a lot of people didn't want to raise the debt ceiling at all. but we promised we had done something good. we were proud of ourselves. bubefore the ink was dry, the president in january submitted his budget on 2012 that wiped out those cuts. and spent more money. the and his budget this year does the same thing. the and the senate democratic budget did the same thing i mean, how can we possibly ever get spending under control if we don't comply with what we promised? so the majority leader has said, well, the war is coming down. the war confidents ar costs aren the future and we'll just score that as savings, and therefore we don't have to raise taxes. we'll just spend the money. we won't have the sequester take effect. we'll just spend all that money and we'll pretend we saved it by not fighting a war ten years from now. can you understand this? let me tell you what experts have said about this gimmick. maya mcbeginnin mcginn nighs, ae committee for a responsible budget, they have wor
forgive us for raising the debt ceiling. a lot of people didn't want to raise the debt ceiling at all. but we promised we had done something good. we were proud of ourselves. bubefore the ink was dry, the president in january submitted his budget on 2012 that wiped out those cuts. and spent more money. the and his budget this year does the same thing. the and the senate democratic budget did the same thing i mean, how can we possibly ever get spending under control if we don't comply with what...
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May 6, 2013
05/13
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the debt ceiling, he wants to talk about that, he wants to talk about taxes, we're happy to do that, but let's do it in the context of regular order. that's what we should be doing around here. my friend from texas, -- from texas is like the school yard bully. he pushes everybody around and is losing, and instead of playing the game according to the rules, he not only takes the ball home with him but changes the rules. that way no one wins except the bully who tries who indicate to people he has won. we're asking republicans to play by the rules and let us go to conference. i don't think it takes a lot of wizardry to figure out that we know how the american people feel about what they want done with this country. they want us to get on a pathway of growth and economic vitality that has been hindered. now, the republicans have one -- they have things they want to do, we have things we want to do. why can't we sit down as reasonable men and women and work out our differences? that's what a conference is all about. so i object to what my friend suggests. it's actually fairly ridiculous,
the debt ceiling, he wants to talk about that, he wants to talk about taxes, we're happy to do that, but let's do it in the context of regular order. that's what we should be doing around here. my friend from texas, -- from texas is like the school yard bully. he pushes everybody around and is losing, and instead of playing the game according to the rules, he not only takes the ball home with him but changes the rules. that way no one wins except the bully who tries who indicate to people he...
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Oct 8, 2013
10/13
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i hope question get republican cooperation to move the bill quickly and the debt ceiling. it not it could take us right up to the deadline one day before. i'm optimistic, madam president. my republican colleagues here in the senate will filibuster this bill. i'm cynical by nature. -- [inaudible] as those that are optimistic. i'm sure we have ongoing issues maybes optimistic about everything. i'm cynical about everything. i'm optimistic even though against my nature that republicans are not going hold the full, faith, and credit of the united hostage. i hope i'm right. we need reopen the federal government now not ten minutes before the debt ceiling is gone. we need get back to the business of protecting american families. back to the job of legislative. we're not doing anything in here anymore. this is our job to legislate. t always been a our job. open the government, pay our bills, let's negotiate. it's my understanding, miami president, consent agreement has been cleared. we'll hear from the republican leader, we'll hear, at this time, from senator mccain for 15 minutes
i hope question get republican cooperation to move the bill quickly and the debt ceiling. it not it could take us right up to the deadline one day before. i'm optimistic, madam president. my republican colleagues here in the senate will filibuster this bill. i'm cynical by nature. -- [inaudible] as those that are optimistic. i'm sure we have ongoing issues maybes optimistic about everything. i'm cynical about everything. i'm optimistic even though against my nature that republicans are not...
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Feb 22, 2013
02/13
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>> the debt ceiling site. there were obviously thought given to this. >> that is one everybody -- jim was putting the mechanisms in place. he was putting mechanisms in place and we were doing girly things that had to be done. everyone was very focused. at least on a message side. it was a line of demarcation, the debt ceiling numbers weren't as bad as they were throughout the whole presidency. the rumors were swirling around and our folks were nervous. it was clear that we were now in a situation where we have to fight. so there were artier mechanical things that have to be done. one of the things that we knew is that they were going to have the big primary and we would have time to put things in motion. >> genin larry, can you talk abt the program? >> well, i was at the dnc. so a lot of the work we did there was building the foundation of what we knew would come for the reelection. while it wasn't a permanent campaign, there were a lot of things that were under the radar. building on some of the internal poll
>> the debt ceiling site. there were obviously thought given to this. >> that is one everybody -- jim was putting the mechanisms in place. he was putting mechanisms in place and we were doing girly things that had to be done. everyone was very focused. at least on a message side. it was a line of demarcation, the debt ceiling numbers weren't as bad as they were throughout the whole presidency. the rumors were swirling around and our folks were nervous. it was clear that we were now...
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Jan 24, 2013
01/13
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jillion dollars increase in the debt ceiling is out there. with president obama with his skills, if he calls together side tad and says here's my plan to save medicare. here's a plan to save medicaid. here's my plan to fix the debt. i want bipartisan support to do that. at first because it's a difficult issue, everybody will say we can't do it that way and then we'll sit down and talk and come up with the result. i think the republican leader has shown he is prepared and willing to do that. he sat there, done it on other issues. i don't allow us the rest of us can do to show that. so what i'm trying to respectfully say today is much if anything to the president of the united states is congratulations on your inauguration. i was there prior to participate for a chance to stay for a minute and a half where we celebrate for the 57th time the inauguration of an american president. we celebrate because our country is distinguished from most other countries in the world a peaceful transition or reaffirmation. we have our political contest and the r
jillion dollars increase in the debt ceiling is out there. with president obama with his skills, if he calls together side tad and says here's my plan to save medicare. here's a plan to save medicaid. here's my plan to fix the debt. i want bipartisan support to do that. at first because it's a difficult issue, everybody will say we can't do it that way and then we'll sit down and talk and come up with the result. i think the republican leader has shown he is prepared and willing to do that. he...
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Sep 18, 2013
09/13
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in fact, maybe the next two weeks, which relates to the debt ceiling. as you will see in our surveys of consumers in just a moment, the consumers do not like that discussion. to my point about consumers not yet being robust and consumption not being up, of course one of the things that happened prior to the crisis with savings essentially went to zero for a couple of quarters. this chart kind of averages over that time to read it, but you can see the savings rate has come back up that it's not yet near the long-term trend. and if consumers are attempting to increase savings, that means that they're reducing consumption, especially if income growth is flat. and income growth has been very flat. that's one of the problems of this expansion. so here's what consumers are saying about housing. on the left hand side is the expected home price change. so housing has become a tailwind. when we said it was on a firm footing, that's been borne out. but the last couple of months, they have wavered. their price expectations for what's going to happen in the next 12
in fact, maybe the next two weeks, which relates to the debt ceiling. as you will see in our surveys of consumers in just a moment, the consumers do not like that discussion. to my point about consumers not yet being robust and consumption not being up, of course one of the things that happened prior to the crisis with savings essentially went to zero for a couple of quarters. this chart kind of averages over that time to read it, but you can see the savings rate has come back up that it's not...
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Jun 19, 2013
06/13
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no one offered an amendment on the debt ceiling limit. as part of the agreement in order to go to conference, we have offered to have a vote now on whether we should have motions to instruct. and i would be willing, as chair, to abide by that vote once our unanimous consent is agreed to. but i have to say as a matter of principle, for a chair of any committee to say, once we have gone through hundreds of hours of debate and a lot of amendments that then before we go to conference we have to agree to a principle that has not been voted on or offered in the senate as part of that is not how we can proceed in this body. it would be the same as if i would come out here and say, well, i'm going to not allow us to go to conference on whatever bill because i have a small provision and unless you absolutely agree, even though i don't have the votes, that that has to be in there, we're not going to conference. we would never get anything done. mr. president, the -- the unanimous consent that i've offered allows my republican friends to have a vote
no one offered an amendment on the debt ceiling limit. as part of the agreement in order to go to conference, we have offered to have a vote now on whether we should have motions to instruct. and i would be willing, as chair, to abide by that vote once our unanimous consent is agreed to. but i have to say as a matter of principle, for a chair of any committee to say, once we have gone through hundreds of hours of debate and a lot of amendments that then before we go to conference we have to...
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Mar 19, 2013
03/13
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ceiling to be increased because we spent so much money and republican said okay, we will raise the debt ceiling so the country doesn't default but only if you agree to a dollar for dollar reduction in spending over the next decade. that $2.5 trillion in spending restraints, not real cuts, spending, less than obama had hoped but in washington that is called a cut. if you want 10 of something and you only got eight of something, you walked away with eight but so that was the $2.5 trillion spending reduction over the next decade. it hasn't happened yet. we have several problems. the trillion dollars that obama obama -- obamacare tax increases in this decade have begun to hit now. oddly enough the democrats in the house and senate decided to put the tax increases, both of them after the 2012 election so everybody voted and now the tax increase has hit. this is not helpful for the economy and they think it's going to be unpleasant. >> host: up next from watertown south dakota on the democratic line. good morning, ron. >> caller: good morning and thanks for taking my call. i listened to you f
ceiling to be increased because we spent so much money and republican said okay, we will raise the debt ceiling so the country doesn't default but only if you agree to a dollar for dollar reduction in spending over the next decade. that $2.5 trillion in spending restraints, not real cuts, spending, less than obama had hoped but in washington that is called a cut. if you want 10 of something and you only got eight of something, you walked away with eight but so that was the $2.5 trillion...